A Reverse Mortgage Loan allows you to choose how you receive your payments on a refinance transaction.
The most popular option is to obtain a line of credit.
Your different loan options for a Reverse Mortgage Loan are:
1) Establish a line of credit to use when you need it.
2) Monthly installment
3) Lump sum of funds
4) Any combination of these options.
5) Purchase loans using a Reverse Mortgage Loan – Requires a down payment and then monthly payments are not required. The borrower(s) remains responsible for taxes, insurance, and maintenance costs.
Where we lend for Reverse Mortgage loans for seniors.
Mortgage Miracles Happen specializes in arranging Reverse Mortgage loans for seniors.
We are a Reverse Mortgage Loan lender specialist in Arizona, Colorado, Florida, Utah & Texas.